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CNBC
Oct 5, 2012 7:00pm EDT
is cooking? >> 7.8% unemployment. is this magic number of president obama for real or was it cooked? good evening, i'm larry kudlow. this is "the kudlow report." team obama doing a victory lap, rejoicing over the 7.8% victory lap. my guest, jack welch, is questioning whether the numbers were cooked to help president obama. mr. welch will respond live and talk to me in a moment. this whole thing comes as the romney roll continues. scott rasmussen has three polls showing a dead heat in battle ground states, hai, virginia, florida. even the liberal magazine "the new yorker" sees it on their front cover, mitt romney pulling a clint eastwood, debating an empty chair. first up, it was the tweet that was heard around the world. my good friend jack welch set off a social media firestorm. take a look at his tweet. "unbelievable jobs numbers. these chicago guys will do anything. can't debate so change numbers, end quote. he's chase by accusing the white house of skewing the data to help president obama. earlier on cnbc, u.s. labor secretary fired back with this response. please take a listen. >> th
CNBC
Oct 8, 2012 7:00pm EDT
report." mitt romney unveils his foreign policy strategy. he says the obama white house botched the response to the terrorist attack on the u.s. embassy in benghazi. cnbc's own john harwood has the latest. good evening, john. >> good evening, larry. mitt romney tried to build on his successful debate last week by talking foreign policy today and attacking president obama as simply not someone leading. >> i know the president hopes for a safer, freer, and more prosperous middle east allied with us. i share this hope. hope is not a strategy. >> we don't know if that line is going to work, but we know from new polls out today he's made significant headway since the debate. puts a lot of pressure on the vice presidential debate later this week. we'll talk about it at athe bottom of the hour. >> we will see you later on that very topic. also this evening, one battleground state, michigan, will vote on a state constitutional amendment to allowing collective bargaining, unlimited wage increases, and unchecked union power. michigan's governor rick snyder says how it will disrupt his sta
CNBC
Oct 3, 2012 7:00pm EDT
of the university of denver. 8:00 p.m. eastern, president obama and mitt romney will face off in their first of three debates. we have an all star panel tonight. former congressman rick lazio and former clinton white house aide keith boykin. and herman cain tells us what it's like to debate kevin madden. it's all about leadership and leadership means taking control of the conversation. that's just my advice. in an anemic overall economy, we've seen some positives in recent days. the ism services surprised on the up side today, 15 million car sales yesterday and of course stocks have been rising since a year ago today. the s&p is up 32%. so things can't be all that bad. how will the investor class vote in 34 days? but first up, both mitt romney and president obama are in their respective hotel rooms now. they're making final preparations for the big debate and cnbc's own john harwood joins us live with the details. good evening, john. >> good evening, larry. two hours from that debate we've gotten a reminder in the last 24 hours with a slew of polls of how high the stakes are in this debate.
CNBC
Oct 4, 2012 7:00pm EDT
is team obama and the pentagon not helping our fighting men and women cast their absentee ballots? we will have that story. >>> the day after mitt romney politely and respectfully cleaned obama's clock president obama tried to quickly turn the page. cnbc's amin javers has more. >> reporter: the day after the debate strategy tells you which campaign this they won last night and which did not win. mitt romney spoke on tv after the network newscasts had gone on the air. that forced the tv networks through the day and the evening broadcast this is evening to use pictures from last night's debate again and again. president barack obama, however, had two rallies including one in denver, colorado where he had sort of a chance to do a do-over from last night. take a listen. >> when i got onto the stage, i met this very spirited fellow who claimed to be mitt romney. but it couldn't have been mitt romney, because the real mitt romney has been running around the country for the last year promising $5 trillion in tax cuts that favor the wealthy. the fellow on stage last night said he didn't know
CNBC
Oct 4, 2012 4:00am EDT
romney comes out swinging in his first debate with president obama with the two men sparring over how to fix the u.s. economy. waiting on spain, the ecb expected to hold steady on rates. country's president tells cnbc that europe's policymakers must remain focused. >> if we get bogged down into what was meant by the june agreements and waste time on this kind of discussions, then it's much less likely that a coherent system will emerge. >> madrid continues to put faith in the hands of private investors while finance minister heads to london to raise funds for the country's bad bank. and india's crucial services sector grows at its fastest rate in seven months, while the government gets set to take another swing at boosting it through foreign investments. thanks very much for joining me. anyone that's missing ross, he'll be back in tomorrow. but for now, you're all mine. . plenty to come on the next couple hours of the show. lots of guests to help us figure out what's going on. we'll get a view from sydney about cautious shoppers. borrowing costs are expected to fall. we'll bring you t
CNBC
Oct 9, 2012 7:00pm EDT
obama getting a ton of donations from china and a ton of foreign donors and it is illegal. why isn't he putting a stop to it? i don't see how they make it through each day. i couldn't do it without faith. do they vote blue or red? ralph read is going to tell us about that story. >> but first, mitt romney has bolted past president obama in the polls. leading 48-47. now he is closing in on the critical battleground states. >> good evening to you. just a few weeks ago team romney was considering giving up in ohio. maybe the most important state in 2012. now there the romney plan is to push harder. he came to dusty iowa on his way to iowa. today about a navy s.e.a.l. romney went to a party. >> you can imagine how i felt when he was one of the two navy s.e.a.l.s killed on september 11th, it touched me obviously. >> after the debate romney soared over obama. today as president obama bheade to ohio the poll put him two points behind him. >> somebody is cracking down on big bird. he put up a cable tv add. >> big, yellow and a men nnace our economy. >> team obama overflew the mess sake today. i
CNBC
Oct 2, 2012 7:00pm EDT
and the obama administration is telling companies it is okay to disregard the law when it comes to handing out pink slips in advance to big budget cuts. all three happening before the election. mitt romney has finally put meat on the bones of his tax reform idea. he floated the idea of a $17,000 cap on tax reform reduction. >> you could say everyone is going to get up to a $17,000 deduction. you can fill that bucket if you will and higher income people might have a lower number. >> this is brand new stuff. we have howard dean former vermont governor and candidate. and let's look at this for a second. what do you think? a $17,000 cap on tax deductions for everybody as a way of being fair because the upper end would pay more. what do you think? >> i don't have a problem with the eidea of deductions. here you are. you guys are talking about the private sector all the time. so, i've been convinced because of the high rate of canadian home ownership, i'm not convinced of doing away with charitable deductions. $17,000 ceiling for all tax deductions across the board. sure, steve. the upper end people
CNBC
Oct 3, 2012 8:00pm EDT
and your taxes. >> unlike president obama, i will not raise tax on the middle class of america. >> i want to reform the tax code so it's simple, fair. >> the candidates' opinions couldn't be more different and the stakes couldn't be higher. >> their philosophy is if you don't are health insurance, don't get sick. >> now is the moment we can do something. and with your help, we will do something. >> cnbc's coverage of the first presidential debate of the 2012 presidential election begins now. >> tonight some of the most influential figures in the nation on the economy join us here on cnbc. >> we've got representative and hopeful ron paul with us. texas, from texas. he is of course outspoken about the federal reserve policies. robert reich is here with us tonight. also with us grover norquist. the man behind the no new taxes pledge so many republicans made. and bob lutz a former top auto executive. the auto bailout expected to be a big topic tonight. and we've got president of the aflcio. unions of course a major constituency. and roger altman. as you can see the lineup card is full. going
CNBC
Oct 4, 2012 11:00pm EDT
floats your boat. on a day when many stocks were buoyed by mitt romney's victory over president obama, let me tell you how i watched. i watched the debate within the parlance of my world, the stock world. i watched it with an eye towards making you some money. tweeting every potential stock idea triggered by either gentleman. ♪ how can you try to make money from the debate? let me parse it for you. show you how it's done. going over the actual statements by each candidate translating them into cramerican. let me tell you, there were tons of cramericans on twitter. if you tweeted me about the debate, keep an eye on the twicker running below. you may see your tweet. romney went right into a call for north american energy self-sufficiently, singling out coal as an endangered species under obama. listen. >> i like coal. i want to make sure we can continue to burn clean coal. people in the coal industry feel like it's getting crushed by your policies. >> lots of bozos went in and bought the coal stocks. all the coal stocks on. this wrong take away, people! coal's hostage to chinese deman
CNBC
Oct 3, 2012 4:00am EDT
obama and mitt romney have jabbed at each other from afar for weeks, but now they get to do it face to face as they get set tonight for their first debate. slipping growth hits home in china's resilient services sector. >>> and more signs of trouble for the spanish government as the latest figures show its corporate tax revenue has tumbled. mariano rajoy issues the latest denial that he's ready for a bailout. >>> we now have the latest numbers crossing for the eurozone services pmi. the september final services read coming in at 46.1. an improvement that we have seen from the 46 number. this is still the lowest level we're seeing since 2009. the forward indication 49.4. in terms of what we're seeing on the final comp sit pmi, this is above the 45.9 read that we have, but just a fraction below what we saw in august, the rate was 46.3 then. this is the lowest read since may 2009. in terms of new business number for the composite september rate, 43.8. we're still right back at some of these 2009 lows. >>> elsewhere, the numbers are not that much better. lisa has more on these numbers o
CNBC
Oct 4, 2012 9:00am EDT
president obama speaks this morning, trying to counter the widespread perception that he lost last night's debate. his in-rate contract down 7%, but do stocks have to start pricing in a romney rebound? >> the ecb standing pat on rates as expected as the pressure on spain to file for a bailout eases with borrowing costs a little lower this morning. markets looking ahead to tomorrow's jobs number and the start of earnings season next week. >> it's back. facebook hits the billion user milestone. 1 billion monthly active users as of september 14th. this as its ceo does the rounds, appearing on the cover of "businessweek" and giving nbc an exclusive interview. we've got some of that exclusive later on in the show. >>> and how bad can things get at hp? meg whitman knocks down guidance, sending shares down to nine-year lows. we'll talk to her directly in just a moment. >>> the first presidential debate is now in the books. mitt romney went on the offensive, pushing his pro-growth agenda while taking president obama to task on his jobs and economic record. president arguing romney's plan on taxe
CNBC
Oct 5, 2012 6:00am EDT
taylor. after we hear the number at 8:30 eastern time, we'll talk about what the news means for the obama and romney campaigns. our ges both served as chairman of the economic advisers. austan goolsbee and ed lazear under president obama. but first this morning's headlines. >>> you wanted music but you didn't pick this? >> no but it didn't bother me until you started mocking it. >> she want us just to talk, no music. >> let's get to spain and its finance minister. sparking laughter from an audience in london today, why he told a group of academics that his country doesn't need a bailout at all. that's interesting. the minister is arguing that madrid's reform program right now is already sufficient to stave off a full sovereign bailout and the ecb's bond buying program would suffice. to help spain recover. that's apparently how it started, with -- you can imagine -- that's bad for confidence of the minister of spain where he's telling an audience, we don't need a bailout and then you hear a whole auditorium laughing. morgan stanley is warning that more pay cuts are coming. in an interview
CNBC
Oct 4, 2012 5:00pm EDT
>> it looked like president obama was not prepared. >> the industry e champion did take off today. >> by the way, i like coal. >> as long as he doesn't say anything like this. >> i was in bangkok myself and mark, i didn't see you in the disco. >> well that was the lowest class of all. >> fast money, right now. >> live from the market in new york city's times square. stocks getting a boost today and is this a romney rally? what is the best way to play it. >> i think you have to look at the sector that is most undervalued. i think a romney victory brings back the return of normalized earnings much faster. you will see a regulatory environment that is more in line with what i think the 2012 market should be. we have over regulated in that sense and the value of the us dollar under romney will get stronger. >> karen? >> i agree with what he is saying. there is the perception of economic growth and if that is the case and less regulation, i think you are see the industrials get better. >> i think if we can get back to 2007 and 8: 20 2007 and 2008 levels, it will be better. >> how often
CNBC
Oct 8, 2012 6:00am EDT
gap. >> reuters has obama up. >> so how do you read it this morning? >> romney has some momentum from the debate. i think the debate is a more powerful political force in the race than the unemployment numbers that came out. we were all talking about those on friday. but you had more than north of 60 million people watching these two guys on wednesday night and you see some momentum, democrats say the gap has narrowed in some states where obama had a lead. he's getting closer in most of the swing states. up two in rasmussen, down three in gallup. and the question is does this week continue that momentum. the vice president debate in the past has been critical for either accelerating or breaking the momentum one way or the other for the party in power. and we saw dick cheney came through twice for president bush, once in 2000 against joe lieberman when they were continuing the progress bush that in the first debate, second time was in breaking the momentum that john kerry had in 2004. and cheney bested john edwards in 2004, that helped him. so we have to see whether paul ryan, who is v
CNBC
Oct 3, 2012 6:00am EDT
>>> good morning, everybody. welcome to "squawk box" here on cnbc. president obama and mitt romney now have about 15 hours until they take the debate stage at the university of denver. >> people want to know who's going to win? who's going to score the punches? in my view, it's not so much winning or losing or even the people themselves, the president and myself. it's about something bigger than that. >> no, no, governor romney, he's a good debater. i'm just okay. but what i'm most concerned about is having a serious discussion about what we need to do to keep the country growing. >> a new nbc news "wall street journal" poll finds that nearly four in ten voters say that the upcoming debates will be either extremely or quite important to determining their vote for president. another 34% of voters polled say that the upcoming debates will be somewhat important to their votes, so the stakes are high tonight. president obama's lead in the nationwide polls is narrowing. meantime, romney has pulled even in florida. john harwood is in denver this morning and he will join us in just a few
CNBC
Oct 3, 2012 4:00pm EDT
by the obama administration that are having a chilling effect on energy production in the united states. those three things alone would send signals to the marketplace. we're serious about our energy policy. even though congress doesn't act, the administration, the president could take those steps and it would send a clear signal, put a lot more people to work. >> so what should the policy look like? what, in your view, would be the most important, you know, event that the administration can do to help the country's energy situation? >> i think the first thing is it needs to be a policy driven by job creation. in the oil and the gas business, since this recession started in 2007, 2008, we've created close to 400,000 jobs when the economy has lost 6 million. so we need to focus on job creation potential. the second thing we shouldn't overlook is the amount of revenue that the industry generates as they create these jobs. we contribute over $86 million a day to the federal government. that's a lot of revenue that could help with deficit, deficit reduction and our debt structure. the third piece
CNBC
Oct 3, 2012 5:00pm EDT
% catches a break today. we'll tell you why. later obama versus romney. when it comes to the economy who is the better bet? we will give you some answers. how do you know which ones to follow? the equity summary score consolidates the ratings of up to 10 independent research providers into a single score that's weighted based on how accurate they've been in the past. i'm howard spielberg of fidelity investments. the equity summary score is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea. accolade overdrive. zagat just gave hertz its top rating in 15 categories, including best overall car rental. so elevate your next car rental experience with the best. it's just another way you'll be traveling at the speed of hertz. >>> time for pops and drops. we kick it off with a drop for lex mark. >> people not buying a printers not a good thing. it didn't help with lex mark. they fall better than 3%. >> fdl a pop. 3%. >> a little more on the earnings. the margin pressure might be ending this quarter. i still think the
CNBC
Oct 3, 2012 1:00pm EDT
for that component. services was down in september but still above the 50 point. i don't think romney turns to obama and says we are doing gangbusters on jobs but they are in the 200,000 range. >>> housing the other part of the story. one more sign that the housing market may be creeping back. mortgage applications surging almost 17% last week. but as more people are looking to buy, that is not good news for the rental market. new numbers out today raising new questions about whether there will be enough demand for all of those new apartment buildings. diana olick joins us with some worrying new figures. diana. >> reporter: yeah, that's right, sue. apartment demand had been red hot but we've got new numbers out do that show we may have reached the peak. apartment vacancies are still coming down but now at the smallest rate in over two years. absorption of new units also slowing and rent gains coming way down as well. this is an avalanche of new apartments coming online, multi-family housing starts were up 37% in august from a year ago. between 160,000 and 200,000 new units will open in kw? a where h
CNBC
Oct 4, 2012 6:00am EDT
. republicans were thrilled with his performance. democrats were not so thrilled with president obama's performance. the question is going to be has mitt romney been able in a race where he's been clearly behind the president to hurt him enough and sustain that momentum over the next three weeks. that's what's really critical. there have been strong debates, john kerry had a strong debate against george w. bush in 2004. but he wasn't able to translate that into lasting benefit. that's the best of the next three weeks, to see whether romney can keep it going or whether president obama comes out with a higher level of aggression, higher level of energy in the next debate and stop the momentum that romney accumulated last night. >> okay. yeah, i had so many different thoughts, john, as we watched the whole thing. i remember that a lot of republicans were supporting newt gingrich because just for this moment, they wanted -- they thought newt was such a great debater, they wanted to see someone like newt talk to president obama about his policies and about the last four years. and they tho
CNBC
Oct 9, 2012 6:00am EDT
will be joining us live. >>> and both president obama and mitt roy in will be in ohio today. voters in the swing state are getting their last chance to register for next month's election. the polls are now all over the map. pew has romney up four points, but gallup says the positive jobs report gave president obama a five point boost. among our guests, ken langone and donald trump. and focusing on issues of foreign policy and national security, we have senator john mccain. and by the way, if you went to sleep early last night, the texans beat the jets 23-17. this win brings the texans perfect record this season to 5-0. we will have more in squawk sports. first andrew has the morning's other top stories. >>> mr. sanchez had a chance to win that close to the end there and he didn't. the imf, though, this morning warning that the global economy has weakened further and now predicts slower growth for the next year. the advanced economies like the u.s., imf saying growth now too slow to make a serious dent in unemployment. meantime the imf predicting growth will begin to slow down in emerging economi
CNBC
Oct 4, 2012 3:00pm EDT
probabilities of who's likely to be elected, president obama last week or so peaked at a 76% probability. this morning, it was down to 66% probability. romney moved up 10 percentage points. dan loeb on facebook had put last week out a note that you ought to buy the romney futures because they were so depressed. i don't know how the money works in that thing, but he made ten points on the upside. >> wonder what the capital gains treatment is on that. >> that's a good question. >> rick santelli, i haven't even talked about march you draghi. he had an impact on the markets early on today, didn't he? >> he definitely did. if i look at interest rate complex between the mario draghi influences, the euro rally. we saw interest rates on the safe harbors like ten-year notes move higher. the stocks really grasping in and getting close to triple digits has put the ten-year pretty much at the top of what has been an eight-trading day, 5 1/2 basis point closing range. the boon, which closed a bit ago, is in a 2 1/2 point basis range for seven trading days. it's somewhat amazing. the issue with draghi
CNBC
Oct 4, 2012 12:00pm EDT
that obama might win, figuring that the market, you know, prefers dealing with somebody we know rather than somebody we don't know. i mean there's a lot of interpretations here, and obviously there are a lot of political color to all of this. look, i think that, you know, romney won last night. it isn't just that he won. obama lost with his performance. it brings him back as a credible candidate and he might win all of a sudden, whereas right before the elections everybody sort of wrote him off. so we have to look alt his policy proposals, and obama attacked romney for not having any, but actually on the fiscal side, he's getting pretty specific about favoring a cap on tax loopholes, and i think that's a great idea. i think it would, in fact, generate enough revenues to allow us to lock in on the bush tax cuts permanently. the question is whether the republican diehards who say no tax increase as whatsoever will sign up for that but we could have gridlock even if romney does win. >>> the stock which may be having its best week ever, plus one billion and counting. we'll get a status on faceb
CNBC
Oct 8, 2012 6:00pm EDT
that president obama is going to be re-elected. you don't want to be in ratheon, you're going to have to do a little selling. >> caller: i see that united health care purchased 90% of the brazilian health care companies down there, what do you see their stuff going from here and what do you think if romney's elected president? >> it's not as good if romney's elected president. because what happened is the health companies they went all in under obama. they did win. unh goes higher with president obama is re-elected. if you love playing kick the can as a kid, as i did, you should have adored as an investor in an industrial based company, the kick the can theory, our stocks go higher. >>> coming up , ipo stud or dud. but does this cloud play offer enough profit to bring investors back to the table. find out when you get to know this ipo. >>> and later, up, up and away? amazon has already sold almost 50% this year and google is up over 15%. but could these two market leaders continue to climb? or will they fall back down to earth? don't miss cramer's take. >>> plus, healthy dividend? medical p
CNBC
Oct 9, 2012 3:00pm EDT
the obama campaign has seen a major reversal of fortune from heavy hitters on wall street. >> employees of big banks did more financially for the obama campaign than anybody else donating a total of over $3.4 billion. that was in 2008. now they've gone the other way giving more to romney than anybody else. so does wall street -- are they using its money as a weapon to strike back at all the bashing from the white house over the last four years? how much does it change the top? with us is zach and larry mcdonald. zach, this -- wall street has been a troubled industry anyway. you think that has something to do with their view of the administration right now, yes? >> yeah, i mean, first of all with the lead-in of that commercial to this, i'm having a hard time fully taking this segment seriously. >> well, it is -- >> can you take it seriously with that ad? >> that's what i'm saying. and weirdly enough, "sesame street" actually asked the obama administration to pull the ad because they felt it was doing an injustice to "sesame street." i think separately from this, some context. obama raise
CNBC
Oct 2, 2012 1:00pm EDT
certainly giving it a boost. >> phil lebeau, thank you very much. >>> politics now, president obama and governor mitt romney putting the finishing touches on their preparation before the big debate tomorrow night but will the debates make a big difference? brand new nbc news/"wall street journal" poll released just this minute looks at how closely people will be watching >> eamon javers in washington now with the latest. >> the stakes did just get a little bit higher for those debates in the presidential level this week. take a look at these results now from the new nbc news/"wall street journal" poll which we can bring you. the question asked to voters how important is the debate in picking a president? 38% staying is extremely or quite important. as you can see, that's higher than the respondents said in 2004 and in 2000. that's an interesting number but also interesting the folks who said it was somewhat or not at all important at 62%. that may be an indication that a lot of people in this country have already made up their minds, tyler. that might mean things are tough for those
CNBC
Oct 4, 2012 1:00pm EDT
obama election promised was much higher capital gains taxes. he said he wants to move the basic level up to 20%. his affordable care act already puts a 3.8% cap. so we'd be going from 15% to 23.8% for hire earners on capital gains. mitt romney says he wants to repeal obama care which takes out the 3.8% and he will keep the capital gains level at 15% for high earners and 0% all together. what that means is the pressure to sell before the end of the year. because this is all going to hit in january. there was a lot of pressure to say, look, realize your gains this year so you don't get taxed at the higher rate. >> exactly. so i think romney's performance last night made people say, hey, maybe i don't have to sell right now. maybe i can keep going. that gives a boost to the market. >> let's bring in kenny right now. also, another reason maybe not to sell is the fact that this market has been kind of teflon coated. it keeps grinding its way higher. if you don't have to sell because of potential tax changes, go with the flow. >> i understand that argument. and as great as the debate was last
CNBC
Oct 5, 2012 1:00pm EDT
right now. >>> 7.8% unemployment. did president obama just win next month's election? jack welch says hold your horses on that 7.8% number. he doesn't really believe it. an influential florida congressman agrees. we'll talk to that congressman live and ask him on what he bases his suspicions. >>> a place in the united states where gasoline has now become hard for drivers to find. you will find out why coming up on "power lunch." >>> meantime, let's go to sue at the new york stock exchange. sue? >> the markets have been up all day long. we're up about 60 points or so on the dow jones industrial average and the big reason of course is the number that we got this morning, falling unemployment. we are now below the 8% level for the first time in four years. the question is how did we get there? here to explain all of that, our senior economics reporter steve leisman. steve? >> sue, thanks very much. sue, this number is a product of simple math. but whether it's telling us about the real strength of the job market is something investors and the fed are going to have to think long and hard
CNBC
Oct 8, 2012 11:00pm EDT
to spend more on the defense. if you think president obama is going to be reelected, you don't want to be in raytheon, frankly. you're going to have to do some little selling. let's go to kierein in florida. kierein? >> caller: boo-yah, jim cramer here in sunny florida. >> like that. what is up? >> caller: listen, i see that united health care purchased 90% of the brazilian health care companies down there. where do you see the stock go from here? and what do you think if romney's elected president? >> it's not as good. it's not as good if romney is elected president. because what happened is the health companies and the drug corporations went all in under obama. i know it sounds silly, but they did win. unh goes higher with president obama is re-elected. that brazilian thing showed their growth is no longer limited by the united states. i like that. if you love playing kick the can as a kid, as i did, you should have adored as an investor in an u.s.-based company as u.s. europe kicked the can down the road. as china falters, our stock goes higher. "mad money" will be right back. >>
CNBC
Oct 2, 2012 6:00am EDT
. the action first to come out of a work group created by president obama to go after wrongdoing. jpmorgan bought bear stearns for $10 a share in march of '08 and we kind of thought they were doing the rest of us a favor. now they're like, thank you, sir, may i have another. the bank says it will contest the allegation. similar cases against other banks are likely to follow. scott cohn has been reading through the complaint as he always does. he'll have more at the top of the hour. and samsung will be allowed to sell its gallaxy it tablet in te united states. a court is removing a temporary sales ban on the twice. and samsung has filed a motion against apple saying that iphone 5 infringed on some of its patents. >> tit for tat. >> exactly. and boeing -- some words are for cable. i'd say probably -- >> tit for tat, there's nothing wrong with that. >> if you comfortable saying that. >> i am. >> you know how they cut everything romney says, they cut out all the stuff on both sides of it? all we'll have for you is saying it tit, tit. remember faber, remember what he said? >> yes. the work on h
CNBC
Oct 5, 2012 4:00pm EDT
over. >>> plus, some critics of president obama are crying foul over the surprise decline in the unemployment rate. is there any truth to claims the white house is manipulating the data? former hewlett-packard ceo carly fiorina will weigh in. >>> and you're used to seeing him celebrate in the pool, so why is michael phelps celebrating on the green today? wait until you see this putt. >> yeah, you have to watch this video. don't move. it's amazing. bought from us onl. so, i'm happy. sales go up... i'm happy. it went out today... i'm happy. what if she's not home? (together) she won't be happy. use ups! she can get a text alert, reroute... even reschedule her package. it's ups my choice. are you happy? i'm happy. i'm happy. i'm happy. i'm happy. i'm happy. happy. happy. happy. happy. (together) happy. i love logistics. if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education. let's build a strong fo
CNBC
Oct 8, 2012 9:00am EDT
're going nuts, sales are going nuts. and a lot of people say it's because of obama. but is there just this kind of, i want to protect my home at all costs? >> i think that's a piece of it. but i think in reality, it's much more than just protecting your home. it's protecting your family, it's protecting your business. and it's not just burglar alarm. it's fire, smoke, carbon monoxide. with the home automation push, there's tremendous opportunity to expand beyond traditional security. >> i met with at&t wireless and they said we're going to eat adt's lunch. we have the best thing going. >> they've announced they're getting into the security space and they're starting to ramp up -- we haven't seen them in the market with their new solutions yet. >> of course, they could just buy you, right? >> you'd have to ask them about that. >> tyco acquired adt in 1997 and along the way said, hey, we will benefit from the synergies within our businesses. why are you better off not a part of tyco than erp as a part of it? >> i think we are a subscriber-based business. we make an investment up front a
CNBC
Oct 3, 2012 6:00pm EDT
prices for all. that's a platform i could vote for, if only obama or romney would embrace it. lawrence in texas, lawrence? >> caller: jim, how are you doing? i have a question for you today regarding rpm. the earning report came out today. long or short in the stock? >> short that, you have to short that plentiful dividend. i never recommend that idea. you don't want to do that, boss. i was going to recommend this and then i felt that the upside was very, very limited. good numbers. i should have done it. i really did kick myself at this one. i thought if i recommended it, the stock would go up too much. ron in louisiana. ron? >> caller: jim. i've got to thank you. you're the best. i've been investing for 55 years and didn't make money until the last five. guess why? jim cramer. >> thank you. thank you. >> caller: thank you. jim, my question to you is will tim geithner's message to aig affect the long-term outlook? and if so, up or down? >> i would not worry about tim geithner when it comes to aig. just worry about mr. benmosche and what he's doing. carolyn in florida. carolyn? >> call
CNBC
Oct 5, 2012 6:00pm EDT
the target of the anti-obama crowd, because i didn't call into question how the unemployment number got below 8%, i didn't suggest that number might have been rigged to look good for president obama. i was pillared as a house man owned by the democrats. please! look, my philosophy is crystal clear. you can't look through it. don't bother. you can't question its authenticity. you can't say it's political, and more importantly, can't question its legitimacy for one party without questioning it the other. i understand the accusations from partisan people. they feel robbed of one of the best talking points, unemployment rate stubbornly above 8%, to attack those who accept the number and don't offha offhandedly accept it is wrong is outrageous. i don't like how the number is put together. i would outsource the compilation number, and you can calculate data much faster and more efficiently. i look at the labor department the way i looked at replacement referees in the nfl. terrible, but nonpaerrtisan, equal-opportunity mistake makers. the numbers i take at face value your honor obama and the same w
CNBC
Oct 3, 2012 9:00am EDT
. >> no. i like gum. who doesn't. and biscuits. what's not to like? back to politics now. president obama's lead has narrowed heading into tonight's big debate. john harwood is in denver getting ready for the big event. john? >> reporter: melissa, we've got several pieces of encouraging news for mitt romney from not only the wall street poll but swing states poll. you mentioned that mitt romney's closed the deficit among likely voters for obama from five points to three points. and in florida, he's closed from five down to one which is tied given the margin of error in our poll. in virginia, he has closed the gap from five to two. if you look at the state of ohio, a must-win state for mitt romney, mathematically possible for him to get to it without it but his strategists think he needs it. he needs to make progress there. but the fact that some of the national polls are coming back a little bit, some of the swing state polls are tightening, is a bit of an earn couragement for romney that he still has an opportunity for deficit with three or four points to change the dynamic in some way.
CNBC
Oct 3, 2012 12:00pm EDT
way does the presidential election go. so the consensus you view obviously is that obama will win. and if that occurs, the reform as essentially written will go into place. if romney/ryan win, i think all bets are off. >> so if romney wins, you have to change your investment thesis and your ideas for what stocks could work in a romney administration? >> no, not really. you've had me on the program several times and i consistently try to talk about did your only investment themes. and that's one category is innovation, that's important new medicines for grieve vus illnesses. and another theme that will be with us regardless of who the president is and who controls the senate and house is cost of health care. yes, i would submit to you that if romney wins, it's going to have a knee jerk response to a few of those sectors, but what i'm really talking about and what we're focused on is things we think will unfold over the next many years. >> among your top five holdingses you have gilead in there, so that goes toward the technology and development of drugs. how about some of the other
CNBC
Oct 5, 2012 12:00pm EDT
america was needing jobs so badly he was pushing for obama care instead of working to get jobs to the american people. got the chance to ask him why there's still 23 million americans out of work or stopped looking for work, struggling to find good full time jobs? i got the chance to ask him why is the middle class so buried in this country. incomes have gone down. price of gasoline has doubled. price of food and clothing and almost everything else you buy has gone up. people in the middle class has been squeezed, buried as the vice president said. got the chance to talk about that. got a chance to ask him why he's can you identifying medicare. that's not right to pay for obama care. and also got point to out that he's in favor of a tax plain that will kill 700,000 jobs. and so he had the chance to answer those questions, or not answer them as the case may be but then i think even more important was the chance to talk about where we're going in the future. what he would do and what i would do and what he described was in my view a reiteratation of the status quo. he'll keep doi
CNBC
Oct 8, 2012 12:00pm EDT
romney comes into president or obama remains in. >> mr. vogel, let's go back here on the expectations of real returns for investors because i think you're talking about something that could be incredibly important. there's been tremendous concern regarding pension funds and their expected rates of returns on a yearly basis of around 8%. some said that's unrealistic. do you believe that's now fair? >> it's ridiculous. it's a numbers game in which the bested interest of the pension managers are to offer high returns and bested interest of the pension funds themselves are not impair the company's earnings by telling the truth. the reality is those numbers, by the way that i gave you before 7% for stocks, 2.5% to 3% for bonds are nominal numbers not real numbers. the real numbers we'll take 2%, 2.5% off of them. as to the 8% pension fund returns, i have a big section in the new book showing what companies would have to do to earn that 8% and the returns are off the chart. you have to have a very high stock market return, very high bond market return which we won't have. managers that can
CNBC
Oct 9, 2012 1:00pm EDT
, politics, president obama and mitt romney hitting the swing states big today. >>> and some of the biggest silicon valley investors are planning on disrupting the landscape. >>> as we head to lunch, let's look at the big movers this tuesday on the upside. we will talk about radio shack and upgrade there really moving that stock. one is for a clean, wedomestic energy future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. >>> brian shackman at the market, deck. verifone may have been squared. look at shares pay dupe sharply and the reports out there that square close to a deal with new york city to get their payment system in about 1,000 cabs in the city, verifone pretty much owns this marketplace now. >> brian, thank you very much. >>> politics now. president o
CNBC
Oct 2, 2012 6:00pm EDT
jobs... it was president obama who stood up to china and protected american workers. mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side? mike rowe here at a ford tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. who's offering a rebate? your ford dealer. who has the low price tire guarantee... affording peace of mind to anyone who might be in the market for a new set of tires? your ford dealer. i'm beginning to sense a pattern. buy four select tires, get a $60 rebate. use the ford service credit credit card, get $60 more. that's up to $120. where did you get that sweater vest? your ford dealer. >>> we practice buying homework not buying whole. people are eating diets with more and more meat which requiring more grain. that is a huge trend but itself it is not enough to own the stocks at any given moment. like i told you last friday, the fertilizer plays are real wild traders. mosai
CNBC
Oct 5, 2012 3:00pm EDT
things. one, he has to convince that president obama has not delivered. second, he has to convince the american people he can deliver. so he has to do it both things. there's still some heavy sledding for him on both fronts. in terms of the market, i think that over the next few weeks and months we're basically going to be driven not only by the political process but whether we get data that confirms the handoff from central bank action to fundamentals will happen. otherwise, this wedge that the central bank have created between valuations of fundamentals cannot be sustained forever. fundamentals have got to start coming up towards valuations, otherwise valuations will come down. >> mohammed, thank you so much for joining us today. >> thank you, michelle. >> all right. we've got about 51 minutes before the closing bell. the nasdaq is lower by nearly 14 points. >> don't go anywhere. there's still a lot more ahead on this busy friday edition of the "closing bell." >>> coming up, employment possibility. 58% of ceos say they plan to hire more workers within the coming year. is this a s
CNBC
Oct 2, 2012 9:00pm EDT
? >> by looking at investors. that's the only way you can explain it. >> in july 2010, president obama signed the dod-frank act. it addresses many of the regulatory lapses in the commodities market. among other things, it limits the amount of commodity futures that speculators can hold. it makes it easier for the commodities future trading commission to investigate suspected market manipulation, and it empowers the agency to regulate energy derivatives, which enron used to drive up the price of electricity in california. [ticking] coming up, a herculean effort to find oil in a desert wilderness. >> the logistics are impossible. the first thing we had to do is build our own road in order to access this field. >> just to get here. >> just to get here. once that was done, we had to remove 100 million cubic feet of sand just to make the runway. >> that's when 60 minutes on cnbc returns. [ticking] [ horn honks ] hey, it's sandra -- from accounting. peter. i can see that you're busy... but you were gonna help us crunch the numbers for accounts receivable today. i mean i know that this is important.
CNBC
Oct 2, 2012 12:00pm EDT
are afraid of them because of obama care, among other things, so they don't want to talk about them. the whole group is trading at a discount. if you actually go through it, cigna is just -- i'm laughing because he just walked by me on the street actually. anyway, cigna is actually better positioned than other stocks. the he cexposure to obama care small so it's well-positioned. i asked him about lulu lemon. he said, listen, focus on what i said at the beginning of the remarks, which is to say the rumors about stock picking goes to the ridiculous. he's amused by the idea that he's a verb, a stock can be einhorned if he comments on it. he said many times there's nothing there, scott. a lot of fact and fiction at times. >> yeah, kate. the mere fact that einhorn is speaking to you is news in and of itself. the man doesn't speak for the media all that often. he does these presentations, but he so often does not stop to speak to folks like you about his picks, right? >> that's right. he does appear to be battening down the hatches more so, scott, than what he normally does because of the
CNBC
Oct 2, 2012 3:00pm EDT
. they're hearing president obama does not have the answer. they hear from the other side that neither does mitt romney. they're scared. so many of our clients have actually been on the sidelines. this has been a relatively low volume rally. i think it still has legs. i think multiples are reasonable and there's still room to go. >> that's what we have pondered here lately, dick. is this sort of stealth rally, as i called it before -- here we sit near 5 1/2 rear hiyear high the market, even as we worry and wring our hands over those issues. why do you think that is? >> well, i think that investors have been through a difficult decade, especially equity investors in the united states have suffered some real turmoil in their returns, and they've been bombarded by these messages that generate fear. they're legitimate concerns. the world is a very uncertain place. so we're telling -- >> who's buying -- that's the question, who's doing the buying right now? >> i don't think i have a perfect answer for you on that. i can't identify all the buyers out there for you. i'm sorry. >> okay. >> are
CNBC
Oct 2, 2012 4:00pm EDT
a flood of chinese tires threatened a thousand american jobs... it was president obama who stood up to china and protected american workers. mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side? zagat just gave hertz its top rating in 15 categories, including best overall car rental. so elevate your next car rental experience with the best. it's just another way you'll be traveling at the speed of hertz. >>> welcome back. it's not hard to tell when hedge fund manager david einhorn told investors today that he thinks chipotle's stock is short. my next guest couldn't disagree more with the short call. he's damon vickers. good to have you on the program, damon. thanks for joining us. why do you think you're right? >> well, yeah, you named it. look, i think we own chipotle. we also own yum brands. his assertions, one by one, seem kind of an empty bag. they don't really hold much water. >> so let's talk about some of those assertions, damon. einhorn is citing co
CNBC
Oct 3, 2012 3:00pm EDT
and president obama. it gets underway here on cnbc at 8:00 p.m. eastern time. stay tuned. tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in their local currencies. tdd#: 1-800-345-2550 i use their global research to get an edge. tdd#: 1-800-345-2550 their equity ratings show me how schwab tdd#: 1-800-345-2550 rates specific foreign stocks tdd#: 1-800-345-2550 based on things like fundamentals, momentum and risk. tdd#: 1-800-345-2550 and i also have access to independent tdd#: 1-800-345-2550 firms like ned davis research tdd#: 1-800-345-2550 and economist intelligence unit. tdd#: 1-800-345-2550 plus, i can talk to their global specialists 24/7. tdd#: 1-800
CNBC
Oct 4, 2012 4:00pm EDT
made this comment to president obama. >> by the way, i like coal. i'm going to make sure we can continue to burn clean coal. people in the coal industry feel like it's getting crushed by your policies. i want to get america and north america energy independent so we can create those jobs. >> if you're bullish on coal, you're going to like this. take a look at how we performed today in the sector. arch coal up almost 8%. alpha natural up almost 7%. utility stocks also higher. wells fargo saying this is a sector that could do well under a romney administration. we have con ed up about 1%. on the flip side, hospital stocks didn't do so well. a romney win doesn't bode as well for obamacare, and hence big hospital stocks fell. you can see here one of the biggest losers in the session. it was a good start for mitt romney, but it is still early. there are two more presidential and one vice presidential debate to go as the campaign heads into the final month before the election. maria, back to you. >> all right, court. thanks so much. so what the rally today really in response to that p
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